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2021-12-31-accounts

National Children's Orchestras of Great Britain

Registered company number: 02471385 Registered charity number: 803026 (England and Wales)

Audited financial statements for the year ended 31 December 2021

National Children's Orchestras of Great Britain For the year ended 31 December 2021 Contents

Page
Page
ReportoftheTrustees
Report of the Trustees		 1
1
IndependentAuditor'sReport
Independent Auditor's Report		 12
12
StatementofFinancialActivities
Statement of Financial Activities		 16
16
BalanceSheet
Balance Sheet		 17
17
CashFlowStatement
Cash Flow Statement		 18
18
NotestotheCashFlowStatement
Notes to the Cash Flow Statement		 19
19
NotestotheFinancialStatements
Notes to the Financial Statements		 20
20

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

1. Mission

The National Children's Orchestras of Great Britain ('NCO') is a charity which exists to inspire children and young people aged 8 to 14 from all backgrounds and from across the UK to achieve their full creative potential through transformational learning experiences and performances of exceptional quality.

NCO’s vision is to be a place where children (and grown-ups) flourish through music.

2. Public Benefit

2. Public Benefit

NCO fulfils a unique, strategic national role as a distinctive pathway for children with outstanding creative potential at a key time as they transition from primary to secondary school. NCO provides high quality opportunities for children to take part in musical learning outside school. NCO is a significant progression route and connector in music education for children from all backgrounds.

The Trustees have had regard to the Charity Commission's guidance on the Public Benefit requirement under the Charities Act 2011.

3. NCO 2021 Membership

Given the cancellation of NCO’s activity programme due to covid-19, the 2020 membership was ‘rolled over’ so that members were offered the opportunity to take part in NCO 2021 without having to re-audition. As a result, around 85% of young musicians remained in membership into 2021. 150 new children also joined the programme from Key Stage 2.

4. NCO 2021 Programme

NCO continued to plan for the return of residential courses and regional activity in 2021 in order to provide opportunities for 2020 members who opted to remain in membership the following year. However, at a board meeting on 1 April 2021, having considered all current guidance provided by the Department for Education and Public Health England, Trustees made the difficult decision to cancel all residential activity during the current year.

Uncertainty around social distancing requirements into the summer months made NCO’s planned orchestral activity too susceptible to late cancellation, despite considerable, approved mitigations and detailed discussions with host venues.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

NCO Online 2021

NCO Online 2021 ran for twelve weeks between March-July and was built upon the extensive evaluation of a highly successful 2020 pilot programme that was designed with the children and their families. As well as enriching the activities and expanding the online programme, NCO also saw a significant increase in participants; 438 participants in 2020 rose to 600 in 2021.

NCO Online provided exceptional opportunities for children to play together, despite the constraints of the pandemic, with new virtual content shared widely and online to new audiences.

Following the success of the previous year’s online programme, NCO Online 2021 was built on the same key themes further enriched by additional new activities and partnerships:

In total, NCO Online 2021 delivered 1,000 live or catch up resources, 158 music sessions, 22 webinars, 260 live events, 48 social sessions and 18 mentoring workshops. 1,671 video submissions were received for the multi-track ‘NCO On The Move’.

NCO Online was amazing and really motivated me to practise and I learned new things. The past three months couldn’t have been any better. Everyone was so kind and supportive. It was great to meet so many inspiring people. NCO Member

This was such a fabulous opportunity for my daughter. Everything was so clearly organised and made the whole process really easy. It was lovely seeing how child-centred everything was, ensuring fun was firmly factored into each activity as well as quality. NCO Parent

NCO Online was absolutely amazing. I loved the sectionals, and watching Gromit being made in front of my eyes. NCO Member

It is a remarkable achievement that NCO have made my children feel such a sense of belonging…despite nearly all their experience being virtual. Thank you NCO Team. NCO Parent

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

NCO Autumn Orchestral Days: November – December 2021

NCO delivered three orchestral days for all children in the 2021 membership as covid restrictions lifted to enable this activity to go ahead safely. The project was a celebration of the return of live activity and children reuniting to make music together. Offered free of charge, 250 children attended over the three days.

Over the course of three weekends, young musicians played ambitious and varied repertoire in the impressive Great Hall of the Richard Hoggart Building at Goldsmiths University, supported by inspiring conductors, composers from ABRSM’s Composer Mentoring Programme, and NCO Music Tutors.

“We cannot adequately find the words to express our sincere thanks for the incredible NCO day at Goldsmiths University. What you have achieved for the young musicians online have been incredible, but to watch them playing in person with NCO was an incomparable joy.” NCO Parent

5. NCO 2021

In March 2021, the charity relocated its administrative base from Weston Super Mare to Paintworks in Bristol. From this time, a new staff structure was put in place with previous capacity restored and strengthened.

All department processes became fully digitised with a new CRM system implemented to streamline and improve stakeholder engagement and ensure a solid foundation for data collection, monitoring and evaluation.

6. Profile and Engagement

6. Profile and Engagement

Catherine Arlidge featured on BBC Radio 3 ahead of the online Summer celebration for NCO Online 2021 and partners Classic FM as well as The Strad, Music For Youth and Music Education shared social content relating to this culmination of NCO Online 2021.

NCO Online 2021 webinars shared publicly received 2648 views to date with the most popular a webinar with the Finalists of BBC Young Musician of the Year 2021 with 1215 views, 495 views for a Wallace and Gromit Webinar with Aardman Animations and 412 views for an In Conversation parent webinar with Kadie and Stuart Kanneh-Mason.

The NCO Online 2021 finale, a Summer Celebration video launched on 1st July 2021, received more than 2500 views on YouTube and the NCO On the Move multitrack video (created by participants of NCO Online 2021) has been watched on YouTube more than 1000 times. In addition, short features of musical postcards created remotely by groups of NCO Online 2021 Members have been viewed 542 times.

Engagement to support members’ recruitment for 2022 membership via digital content included 1465 views for What we look for in an audition video, 1187 views for our guidance created for Recording and Submitting your Video Audition and 601 views for an inspiring Why Join NCO video that brought together digital testimonials from children, parents and music professionals. The new Communications team, Communications Director (started June 2021) and Communications Administrator (started September 2021) established a refreshed approach and tone of voice for communicating with families and planned a new regular communications structure for 2022 Members, from Welcome email, through to regular weekly emails and timely response to regular enquiries.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

NCO’s monthly e-news was re-established from July 2021 with c.1000 subscribers in 2021 and emails regularly receiving a 70% open rate and 15% click through rate. A new audition email list for 2021 onwards has 900 members and six emails sent in 2021 during audition recruitment received an 82% open rate and 28% click through rate.

A celebratory film created during the 2020/21 Main Orchestra’s Autumn Orchestral Day in November 2021, encompassed the huge success of bringing members together for the first time since the pandemic and has been viewed 352 views on YouTube, 677 times on Instagram and reached 1100 people on Facebook (with 84 likes across Instagram/Facebook).

Overall, social media following increased, as of October 2021 by 64 to 2225 on Instagram, by 607 to 5477 on Facebook and by 108 to 4486 on Twitter.

7. Member Recruitment

7. Member Recruitment

Between July and November 2021, NCO ran its first comprehensive recruitment process for members since 2019 due to COVID-19.

Due to the impact of the pandemic, NCO moved the process entirely online with all applications received via video submission, removed audition fees and relaxed some requirements.

Over 960 applications were received for 624 places for a newly structured programme from 2022 as described below (section 9).

8. Financial Support

NCO remains committed to ensuring that any child with potential, regardless of financial circumstances, should be enabled to take up an NCO place. With help from the generous support of The Leverhulme Trust and The Linder Foundation, along with several additional funders, NCO awarded financial aid for 134 children (£26,250 ) in 2021 to support participation in NCO Online.

9. Future Plans

9. Future Plans

In 2022, NCO’s new activity framework is designed to open up more opportunities for children to participate in the charity’s programmes and help create inclusive progression routes that best serve children aged 8 to 14. Members in both programmes will learn from exceptional NCO tutors and experience the joy and power of playing in live ensembles with other young musicians from across the UK. Both programmes are supported with a wraparound digital offer to better prepare them musically and socially in advance.

National programme: Three symphony orchestras (for each school year group 7, 8 & 9). Members benefit from two residential courses in April and August, each culminating in a public performance. Each residency will be led by inspiring conductors (including Jonathan Bloxham, Natalia Luis-Bassa and Rebecca Miller), creative leads to spark creativity (Jonathan James, Lucy Drever and Sarah Freestone) and wellbeing practitioners (Sarah Upjohn and Tom Taffinder). NCO’s Main Orchestra performs in London in November 2022.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

Projects Programme: Four symphony orchestras/ensembles in Manchester, Birmingham and London over two nonresidential weekends, culminating in sharing events. NCO Projects are designed for younger children this year (years 5-8) and will focus on increasing participation from under-represented priority groups, developed in partnership with grassroots organisations who specialise in identifying young talent, and developing a clear and inclusive pipeline for young musicians within music education. NCO Projects will be led by inspiring conductors and guest artists, including Jess Gillam, Aaron Akugbo and Nate Holder.

Digital Programme: NCO recognises the power of digital in supporting learning and inclusion. Every child will have access to NCO’s new member website hosting resources relating to our approach to learning as well as webinars, sectional rehearsals, preparation materials and social activities. This additional support will help support attainment gaps and ensure all children and their families feel engaged, inspired and welcome at NCO.

Going concern

NCO’s Board and Finance Committee convened bi-monthly throughout 2021 to review the charity’s financial position and strategy. The board is mindful that a strong reserves position at the start of 2020, alongside mitigating actions, and successful fundraising to date have combined to enable the charity to continue to not only operate but also innovate through its digital activities. The charity’s expected loss in 2021 was mitigated for the most part due to two grants from the Cultural Recovery Fund totalling £290,911 alongside continued growth in fundraising and ongoing cost savings.

As the economic impact of the pandemic starts to recede throughout 2022 the two main budget risks are fundraised income and increasing costs (fuel and inflation). NCO’s Board and Finance Committee regularly monitor budgets and budget risks.

STRUCTURE, GOVERNANCE AND MANAGEMENT

1 Governing document

The National Children's Orchestras of Great Britain is a charitable company limited by guarantee, incorporated on 19 February 1990 having acquired the whole of the assets, liabilities and activities of the National Children's Orchestra, being a charitable trust created by a deed of trust dated 16 August 1978. The company was set under a Memorandum of Association which established the objects and powers of the company and is governed under revised Articles of Association, adopted by the Board on 14 August 2019. The company adapted its name from The National Children's Orchestra to The National Children's Orchestras of Great Britain, to better reflect its activities. This was approved by the Board and implemented with the approval of the Charity Commission on 10 July 2012. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. 2 Trustees Recruitment The directors of the company are also charity trustees for the purposes of company law and under the Memorandum and Articles of Association are known as and referred to within this report and the financial statements as 'Trustees'.

The company adapted its name from The National Children's Orchestra to The National Children's Orchestras of Great Britain, to better reflect its activities. This was approved by the Board and implemented with the approval of the Charity Commission on 10 July 2012.

In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

It is the practice of the Board to carry out an annual Skills and Diversity Audit to ensure that a balance of skills is maintained within the Trustees, and that NCO has effective leadership in all aspects of its work. This applies to the operations of the Board as a whole and also to the Finance Committee. In March 2021 the Audit identified gaps in knowledge and expertise and outlined recruitment needed to ensure the Board represented the participants and audiences it currently serves, as well as those it aspires to reach. Recruitment is overseen by a Nominations committee. In 2021, NCO attracted 60 diverse applicants, resulting in positive changes, appointing Rosie Benneyworth, Beth Higham-Edwards, Kadiatu Kanneh-Mason, Lucy Maguire and Christine Wu in 2021 and Uchenna Ngwe and Letty Stott will be appointed in 2022 . An additional young applicant is being mentored by two Trustees. The Chair of Trustees and executive team will normally induct a new trustee through a number of familiarisation sessions, including, for example, attending concerts and visiting courses. The sessions aim to introduce the trustee to NCO and its operating context, business plans and financial position. Trustees are appointed by a resolution passed at a properly convened meeting of the Trustees or by ordinary resolution of the Trustees (in their capacity as Members) at a general meeting.

3 Organisational Structure Trustees meet at least four times a year to approve strategic, artistic, financial and governance policies. The Board is supported by NCO's senior management team Sophie Lewis (Managing Director) and Catherine Arlidge (Artistic and Educational Director). In addition, the Finance Committee meets four times a year to review in more detail the financial controls, governance, risk management and investment performance of the charity. The Chief Executive and Artistic and Educational Director are supported by an informal Music Advisory Group (consisting of Music Tutors and conductors) and Equality, Diversity and Inclusion Advisory Group. 4 Objectives and aims The Objects stated in the Charity’s Articles of Association are:

FINANCIAL REVIEW

The Statement of Financial Activities for the year is set out on page 16. Total income comprised £681,665 for unrestricted funds, £60,175 for restricted funds. Total expenditure was £709,602 in unrestricted expenditure and £126,250 in restricted expenditure. At 31 December 2021 the total reserves of the charity were £639,263 of which £127,651 are restricted.

The Charity benefited from £10,323 in Orchestral Tax Relief and £3,798 in Gift Aid in the accounting period.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

1 Reserves Policy

Of unrestricted funds £668 may only be realised through the sale of fixed assets. £210,000 is held in designated funds, to protect the charity should a natural disaster re-occur. Accordingly, £301,613 is available as free reserves.

Having reviewed the charity’s reserves policy in April 2022 and in light of the crisis caused by the covid-19 pandemic, Trustees identified and agreed that £500,000 should be retained in unrestricted reserves to ensure that the charity is able to continue to deliver essential services for its beneficiaries should a similar event occur again. A two-year view was taken to reflect the fact that the consequences of an event such as a pandemic extend beyond any one financial year. Trustees will actively review this reserves policy on an ongoing basis.

2 Restricted Reserves

These funds are maintained through annual fundraising activities. NCO receives specific donations from which only specific disbursements may be made. An explanation of each restricted reserve and the purposes for which it may be expended are given in note 19 to the accounts. Over the next three years, NCO intends to draw down specific restricted reserves to support the charity’s ongoing mission and objectives.

The charity maintains a Bursary Fund to ensure that financial assistance is available to cover all or part of the costs of membership of any child whose family qualifies in the year of membership. The Board considers that a fund should be maintained for this purpose that is equivalent to approximately one year of anticipated expenditure, assuming fundraising continues. In the year under review, the requirement for financial aid was significantly reduced in line with an adapted programme of activity due to the pandemic. Therefore, grants were either approved to be repurposed to support core and/or NCO Online costs or deferred to 2021.

Accordingly, the Bursary Fund was drawn down by £26,250. The remaining balance is £36,743.

3 Risk Management

The Trustees and Executive team meet regularly to review major internal and external financial, strategic, business and operational risks which the charity faces. Organisational and finance risks are a standard agenda item for Board and Finance Committee meetings respectively ensuring that systems and procedures are effective to mitigate those risks as well as measures designed to minimise or manage the potential impact in the event that those risks present themselves.

Trustees consider there to be three key risks to the charity:

The impact of covid-19 on both NCO’s financial position and ability to plan live activities continues to present an ongoing risk to the charity if government guidance for social distancing, and in particular for national youth orchestras, returns. NCO Trustees will continue to monitor this risk via regular reporting and meetings and can develop alternative plans if required for the charity’s 2022/23 programme.

The well-being and safety of all children and young musicians whilst engaged in NCO activities is of paramount importance. The Board undertakes an annual review of safeguarding policy and practice and two Trustees have specific Safeguarding responsibility. All staff and volunteers at NCO must have a full current Enhanced Disclosure and Barring Service (DBS) check. Training is provided for staff at the start of every residency and all staff must complete a basic online child safeguarding course. Additional training is undertaken by senior residency and administrative staff.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

c. Fundraising

c. Fundraising

Every year, NCO needs to raise c. £500,000 to subsidise its overall programme of activity, support its financial aid programmes and support core costs. The Executive team regularly report to the board and finance committee on secured income against targets and to monitor strategies for fundraising and the risks therein.

4 Development 2021 & 2022 2021

The persistence of COVID-19 meant NCO’s 2021 fundraising strategy continued to be driven by the charity’s organisational response to the pandemic. NCO focussed on funding the online programme and building flexibility into funder agreements, allowing it to pivot with funding partners when restrictions changed. NCO qualified to apply to Rounds 2 and 3 of the Government’s Culture Recovery Fund. This approach was successful in a year where success in fundraising was critical to the charity’s survival. NCO retained all existing funding agreements and is extremely grateful to funding partners who, as it endeavoured to keep pace with the twists and turns of the pandemic, generously permitted the repurposing of funding to best support the charity . In particular, NCO would like to thank ABRSM, the Cecil King Memorial Foundation, the D’Oyly Carte Charitable Trust, the Linder Foundation and the Leverhulme Foundation for their extraordinary support.

NCO individual donors, in particular Patrons, Friends and NCO member families, were as generous as the difficult circumstances permitted them to be. They bolstered fundraising by joining schemes or renewing support and donating to appeals. NCO is extremely grateful to each and every one of them.

NCO also secured new funding. In particular a significant grant from the Garfield Weston Foundation to support NCO Online and advance some vital strategic work. NCO Online was further supported by a generous grant from the Linder Foundation, who also provided additional financial support for children from lower-income households.

In a significant achievement, NCO also secured Statutory Funding for the first time in its recent history. NCO was extremely fortunate in an exceptionally competitive environment to receive a grant of £210,000 from the Arts Council of England’s Culture Recovery Fund in Round Two in February, and £187,015 in Round Three in October (of which £80,911 was recognised in the current year). 2022 NCO entered 2022 with a strong foundation of committed existing supporters, and two new grant funders so far. It faces a very real challenge of funding a bridging year – moving from the survival fundraising of 2021 to a year of recovery activity which must respond to the changing needs of post-pandemic children amidst higher costs of delivery. The funding environment has become more challenging for fast-turnaround funding as many Covidresponse funds have been discontinued and replacement funds are not open until later this year.

2022

NCO has submitted a comprehensive bid for National Portfolio Status from 2023. If successful, this would be a threeyear agreement and would secure significant core funding into the organisation.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

NCO expects the remainder of 2022 to be focused on secured grants to support the current fiscal year and 2023 activity. The charity also plans for a full review of audience development and data strategy to support future growth of individual giving income for NCO. This work will be underpinned by the new CRM system and additional investment in the development team.

REFERENCE AND ADMINISTRATION

Registered Company number 02471385 (England and Wales)

Registered Charity number 803026

Registered office Saffery Champness LLP St Catherine’s Court Berkeley Place, Clifton Bristol BS8 1BQ

Principal Office Unit 2.3 Streamline 436-441 Paintworks Bristol BS4 3AS

Trustees Louise Mitchell (Chair) Janet Baker (Honorary Treasurer) Charles Bligh (resigned 4 February 2021) George Caird Miranda Francis Fiona Harvey Andrew Kemble (resigned 2 July 2021) Jonathan Mayes William Norris Claire Thompson (resigned 2 July 2021) Brian Weir Howard Williams (resigned 2 July 2021) Christine Wu (appointed 2 July 2021) Bethany Higham-Edwards (appointed 2 July 2021) Rosemarie Benneyworth (appointed 2 July 2021) Lucy Maguire (appointed 2 July 2021) Kadiatu Kanneh-Mason (appointed 2 July 2021)

Finance Committee Members

Janet Baker (Hon. Treasurer) Charles Bligh (resigned 4 February 2021) George Caird Andrew Kemble (resigned 2 July 2021) Jonathan Mayes Clare Thompson (resigned 2 July 2021) Rosemarie Benneyworth Fiona Harvey

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2021

Founder

Vivienne Price MBE

Senior Management Team

Sophie Lewis Managing Director Catherine Arlidge MBE Artistic and Educational Director

Auditors Saffery Champness LLP St Catherine’s Court Berkeley Place Clifton Bristol BS8 1BQ

Bankers Lloyds TSB Bank PLC 64 High Street Epsom Surrey KT19 8AT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also directors of National Children's Orchestras of Great Britain for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2021

Opinion

We have audited the financial statements of National Children's Orchestras of Great Britain for the year ended 31 December 2021 which comprise the statement of financial activities, balance sheet, cash flow statement and the related notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2021

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2021

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page xx, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.

Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales .

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

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Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2021

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Strong (Senior Statutory Auditor) Date: 20/09/2022 for and on behalf of Saffery Champness LLP, Statutory Auditor St Catherine's Court Berkeley Place Clifton Bristol BS8 1BQ

Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

[15]

National Children's Orchestras of Great Britain Statement of financial activities for the year ended 31 December 2021

Incomeandendowmentsfrom:
Donationsandlegacies
Charitableactivities
Auditions
Concerts
Regionals
Membershipfees
Othertradingactivities
Investments
Other
Total
Expenditureon:
Raisingfunds
Charitableactivities
Residencies(includingonline)
Auditions
Concerts
BursariesandScholarships
Regionals
Total
Netgains/(losses)oninvestments
Netincome/(expenditure)
Transfersbetweenfunds
Netmovementinfunds
Totalfundsbroughtforward
Totalfundscarriedforward
Note
15
19
19
19
Note
Income and endowments from:
Donations and legacies
3
Charitable activities
4
Auditions
Concerts
Regionals
Membership fees
Other trading activities
5
Investments
6
Other
Total
Expenditure on:
Raising funds
7
Charitable activities
8
Residencies (including online)
Auditions
Concerts
Bursaries and Scholarships
Regionals
Total
Net gains/(losses) on investments
15
Net income/(expenditure)
Transfers between funds
19
Net movement in funds
19
Total funds brought forward
Total funds carried forward
19		 Unrestricted
Funds
£
523,094
147,500
748
10,323
681,665
64,462
627,802
17,338
©~~709,602~~
2,910
(25,027)
28,924
3,897
507,715
511,612

Unrestricted
Funds
£
523,094
-
-
-
147,500
-
748
10,323
681,665
64,462
627,802
17,338
-
-
-
709,602
2,910
(25,027)
28,924
3,897
507,715
511,612		 Restricted
Funds
£
60,175
60,175
122,650
127,651

Restricted
Funds
£
60,175
-
-
-
-
-
-
-
60,175
-
-
-
-
26,250
-
26,250
-
33,925
(28,924)
5,001
122,650
127,651		 583,269
147,500
748
10,323
741,840
64,462
627,802
17,338
26,250
735,852
2,910
8,898
8,898
630,365
639,263

Total
2021
£
583,269
-
-
-
147,500
-
748
10,323
741,840
64,462
627,802
17,338
-
26,250
-
735,852
2,910
8,898
-
8,898
630,365
639,263		 259,839
60
19,081
64,500
16,163
1,202
21,952
Total
2020
£
259,839
-
60
19,081
64,500
16,163
1,202
21,952
382,797
382,797
60,934
449,072
410
11,001
34,410
60,934
449,072
-
410
11,001
34,410
555,827
555,827
785
785
(172,245)
(172,245)
-
(172,245)
802,610
(172,245)
802,610
630,365

630,365

16

6th June 2022

National Children's Orchestras of Great Britain Cash Flow Statement for the year ended 31 December 2021

Cashgeneratedfromoperatingactivities
Cashgeneratedfromoperations
Taxationrefund
Netcash(usedin)/providedbyoperatingactivities
Cashflowsfrominvestingactivities
Proceedfromdisposal
Interestreceived
Netcashprovided by/(usedin)investingactivities
Changeincashandcashequivalentsinthereportingperiod
Cashandcashequivalentsatthebeginningofthereportingperiod
Cashandcashequivalentsattheendofthereportingperiod
Notes
1
2
Notes
Cash generated from operating activities
Cash generated from operations
1
Taxation refund
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Proceed from disposal
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
2
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2021
£
621,640
621,640
9,900
748
10,648
632,288
524,557
1,156,845
2021
£
621,640
-
621,640
9,900
748
10,648
632,288
524,557
1,156,845		 2020
(215,432)
21,952
2020
£
(215,432)
21,952
(193,480)
(193,480)
-
1,202
(192,278)
716,835
1,202
(192,278)
716,835
524,557
524,557

(18)

National Children's Orchestras of Great Britain Cash Flow Statement for the year ended 31 December 2021

Notes to the Cash Flow Statement

1 Reconciliation of net income/(expenditure) to net cash flow from operating activities

2

Netincome/(expenditure)forthereportingperiod
(asper thestatementoffinancialactivities)
Adjustmentsfor:
Depreciationcharges
Gainsoninvestments
Interestreceived
Gainondisposaloffixedassets
Interestpaid
Taxrefunddue
(Increase)/decreaseindebtors
(Decrease)/increaseincreditors
Netcashprovided by/(usedin)operatingactivities
Analysisofchangesinnetfunds
At1 January
2021
£
Netcash
Cashatbankandinhand
524,557
Total
524,557
Net income/(expenditure) for the reporting period
(as per the statement of financial activities)
Adjustments for:
Depreciation charges
Gains on investments
Interest received
Gain on disposal of fixed assets
Interest paid
Tax refund due
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash provided by/(used in) operating activities
Analysis of changes in net funds
£
Net cash
Cash at bank and in hand
524,557
Total
524,557
At 1 January
2021		 2021
£
8,898
4,149
(2,910)
(748)
(2,999)
-
-
214,880
400,370
621,640
Cashflow
£
632,288
632,288
2021
£
8,898
4,149
(2,910)
(748)
(2,999)
-
-
214,880
400,370
621,640
Cash flow
£
632,288
632,288		 2020
£
(172,244)
18,508
-
(1,202)
-
-
(21,952)
(17,426)
(21,116)
2020
£
(172,244)
18,508
-
(1,202)
-
-
(21,952)
(17,426)
(21,116)
(215,432)
At31
December2021
£
1,156,845
(215,432)
£
1,156,845
At 31
December 2021
1,156,845
1,156,845

(19)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

----- Start of picture text -----
1 Statutory information
----- End of picture text -----

National Children's Orchestras of Great Britain is a charitable company limited by guarantee and domiciled in England and Wales. The Charity is registered in England and Wales, Registered Company number 2471385, Registered Charity number 803026. The registered office is St Catherine's Court, Berkeley Place, Bristol, BS8 1BQ, and the Principal office is Unit 2.3, Streamline, 436-441 Paintworks, Arnos Vale, Bristol, BS4 3AS.

The principal activity of the Charity is to foster and develop the early musical talent of children aged between 7 and 14 years from across the UK, providing world-class opportunities for orchestral training and performance.

2 Accounting policies Basis of preparing the financial statements

The financial statements of the charitable company, prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 and SORP (FRS 102) the financial reporting standards applicable in the UK and Republic of Ireland and Companies Act 2006.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity's accounting policies which are described above, trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation Assets are written down over their estimated useful lives. The actual lives of the assets may differ from these estimates. The lives of the assets are kept under review and adjusted as appropriate.

Allocation of costs between activities As a small charity many costs incurred, including staff time, cover more than one activity. These costs are allocated to activities based on the key cost drivers and best estimates of staff time on each activity.

(20)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

In particular:

Donations are recognised when the amount of the donation is known and the receipt of funds is probable.

Legacies are recognised when the amount is known with reasonable certainty and the receipt of funds is probable. This may be earlier than the date of receipt of funds where appropriate notification has been received from those dealing with the estate.

Membership income is recognised in the accounting year the membership relates to. Any advance payments of membership are deferred to the period to which they relate.

Audition income is recognised when the auditions have taken place.

Income from Concerts and Regionals is recognised once the event has taken place. Any advance payments are deferred.

Income from trading activities is recognised upon sale of the associated merchandise.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants relate to bursaries and scholarships for attending the courses run by the Charity. Where a member of the Orchestra awarded a grant does not attend, the associated grant is cancelled.

Allocation and apportionment of costs

Costs are allocated to the different activities of the charity on an actual basis where possible. Where costs incurred relate to a number of activities these are apportioned on the basis of time spent on those activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Short leasehold - over the life of the lease Music and Instruments - 20% on cost Fixtures and fittings - 20% on cost Motor vehicles - 16.67% on cost

(21)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

Fixed assets are stated at cost less accumulated depreciation.

Items purchased for less than £200 are not capitalised and are expensed through the Statement of Financial Activities. Taxation

The National Children's Orchestra of Great Britain is registered as a Charity with the Charity Commission under number 803026. Because of its charitable status The National Children's Orchestra of Great Britain is exempt from United Kingdom taxation on its surplus income and capital gains.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Trade and other debtors

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of any impairment.

Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised costs, net of impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other shortterm highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Investments

Investments are carried at their market value with movements in the market value being taken to the Statement of Financial Activities in the year.

(22)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

3
Donationsandlegacies
Donations
Furloughgrantreceived
GiftAidtaxrecovered
Miscellaneousincome
3
Donations and legacies
Gift Aid tax recovered
Miscellaneous income
Donations
Furlough grant received		 2021
576,472
3,798
2,999
2021
£
576,472
-
3,798
2,999		 2020
208,759
36,046
14,180
854
2020
£
208,759
36,046
14,180
854
583,269
583,269		 259,839
259,839
Auditions
Concertincome
Regionals
Membershipfees
5
Othertradingactivities
Merchandisingincome
6
Investmentincome
Investmentincome
Auditions
Concert income
Regionals
Membership fees
5
Other trading activities
6
Investment income
Investment income
Merchandising income		 2021
147,500
2021
£
-
-
-
147,500		 2020
£
-
60
19,081
64,500
147,500
147,500		 83,641
2021
2021
£
-		 2020
16,163
2020
£
16,163
- 16,163
16,163
2021
£
748		 2020
£
1,202
748 1,202

(23)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

7
Raisingfunds
Raisingdonationsandlegacies
Staffcosts
Othercosts
Othertradingactivities
Purchases
Staffcosts
Total
7
Raising funds
Raising donations and legacies
Staff costs
Other costs
Other trading activities
Purchases
Staff costs
Total		 2021
£
62,601
1,861
2021
£
62,601
1,861		 2020
£
39,022
8,766
2020
£
39,022
8,766
64,462
64,462		 47,788
47,788
-
-
-
-		 13,146
-
13,146
-
-
-		 13,146
13,146
64,462
64,462		 60,934
60,934
Directcosts
£
Residencies(includingonline)
156,595
Auditions
17,338
Concerts
-
Bursariesandscholarships
-
Regionals
-
173,933
Grantspayable
Bursariesandscholarships
Thetotalgrantspaidtoindividualsduringtheyearwasasfollows:
Grant
Direct costs
£
156,595
17,338
-
-
-
173,933
Grants payable
The total grants paid to individuals during the year was as follows:
Grant
Residencies (including online)
Bursaries and scholarships
Auditions
Concerts
Bursaries and scholarships
Regionals		 Grantfundingof
activities(see
note9)
£
-
-
-
26,250
-
26,250
Grant funding of
activities (see
note 9)
£
-
-
-
26,250
-
26,250		 Supportcosts(see
note10)
£
471,207
-
-
-
-
Support costs (see
note 10)
£
471,207
-
-
-
-		 Totals
£
627,802
17,338
-
26,250
-
Totals
£
627,802
17,338
-
26,250
-
471,207
471,207		 671,390
671,390
2021
£
26,250
2021
£
26,250		 2020
£
11,001
2020
£
11,001
2021
£
26,250
2021
£
26,250		 2020
£
11,001
2020
£
11,001

All grants relate to bursaries provided to individuals as a subsidy towards their membership fees and travel costs.

(24)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

----- Start of picture text -----
10 Support costs
----- End of picture text -----

11
12
13
Management
Finance
Governancecosts
£
£
£
Residencies(includingonline)
453,782
-
17,425
Auditions
-
-
-
Concerts
-
-
-
BursariesandScholarships
-
-
-
Regionals
-
-
-
453,782
-
Netincome/(expenditure)
Netincome/(expenditure)isstatedaftercharging:
2021
£
Auditor’remuneration
7,210
Auditors'remunerationfornonauditwork
5,050
Depreciation- ownedassets
4,149
Trustees'remunerationandbenefits
Totals
£
471,207
17,425
471,207
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2021norfortheyearended31
December2020.
Trustees'expenses
Trustees'expensesinrespectofattendanceatboardmeetingsduringtheperiodtotalled£nil(2020:£nil).
Staffcosts
2021
£
Wagesandsalaries
263,292
Socialsecuritycosts
22,278
Pensioncosts
7,351
292,921
Theaveragemonthlynumberofemployeesduringtheyearwasasfollows:
2021
£
8
2020
£
303,386
24,099
6,745
334,230
2020
Management
Finance
Governance costs
Totals
£
£
£
£
Residencies (including online)
453,782
-
17,425
471,207
Auditions
-
-
-
-
Concerts
-
-
-
-
Bursaries and Scholarships
-
-
-
-
Regionals
-
-
-
-
453,782
-
17,425
471,207
11
Net income/(expenditure)
Net income/(expenditure) is stated after charging:
2021
2020
£
£
Auditor' remuneration
7,210
7,140
Auditors' remuneration for non audit work
5,050
2,580
Depreciation - owned assets
4,149
18,509
12
Trustees' remuneration and benefits
Trustees' expenses
13
Staff costs
2021
2020
£
£
Wages and salaries
263,292
303,386
Social security costs
22,278
24,099
Pension costs
7,351
6,745
292,921
334,230
The average monthly number of employees during the year was as follows:
2021
2020
£
£
8
12
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31
December 2020.
Trustees' expenses in respect of attendance at board meetings during the period totalled £nil (2020: £nil).		 Governancecosts
£
17,425
-
-
-
-
Governance costs
£
17,425
-
-
-
-		 Totals
£
471,207
Totals
£
471,207
-
-
-
-
17,425
17,425		 471,207
471,207
292,921
292,921		 334,230
334,230
2021
£
8
2021
£
8		 2020
2020
£
12

There were no employees whose employee benefits (excluding employer pension costs) exceeded £60,000. The Orchestras employed 131 freelancers during the year (2020: 57), who worked a total of 695 days (2020: 392 days). The social staff provide pastoral support for the members of the Orchestras, whilst tutors help with the musical elements. These staff are paid on a per session basis.

(25)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

14
Tangiblefixedassets
Short
Musicand
leasehold
Instruments
£
£
Cost
At1 January2021
38,109
124,045
Additions
-
-
Disposals
(38,109)
-
At 31December2021
-
124,045
Depreciation
At1 January 2021
38,109
121,337
Chargefortheyear
-
2,327
Eliminatedondisposals
(38,109)
-
At 31December2021
-
123,664
NetBookValue
At31December2021
-
381
At31December2020
-
2,708
15
Fixedassetinvestments
Marketvalue
At1 January 2021
Revaluations
At31December2021
Netbookvalue
At31December2021
At31December2020
TherewerenoinvestmentassetsoutsidetheUK.
14
Tangible fixed assets
Short
leasehold
Music and
Instruments
£
£
Cost
At 1 January 2021
38,109
124,045
Additions
-
-
Disposals
(38,109)
-
At 31 December 2021
-
124,045
Depreciation
At 1 January 2021
38,109
121,337
Charge for the year
-
2,327
Eliminated on disposals
(38,109)
-
At 31 December 2021
-
123,664
Net Book Value
At 31 December 2021
-
381
At 31 December 2020
-
2,708
15
Fixed asset investments
Market value
At 1 January 2021
Revaluations
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020
There were no investment assets outside the UK.		 Fixturesand
fittings
£
72,018
-
-
72,018
69,909
1,822
-
71,731
287
2,109
Fixtures and
fittings
£
72,018
-
-
72,018
69,909
1,822
-
71,731
287
2,109		 Motorvehicles
£
45,148
-
(45,148)
Motor vehicles
£
45,148
-
(45,148)		 Totals
£
279,320
-
(83,257)
Totals
£
279,320
-
(83,257)
-
-		 196,063
196,063
38,247
-
(38,247)
38,247
-
(38,247)		 267,602
4,149
(76,356)
267,602
4,149
(76,356)
-
-		 195,395
195,395
-
-		 668
668
6,901
6,901		 11,718
11,718
Listed
investments
£
13,480
2,910
16,390
Listed
investments
£
13,480
2,910
16,390
16,390
16,390
13,480
13,480

(26)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

16
17
Debtors:amountsfallingduewithinoneyear
Tradedebtors
Prepayments
Taxrecoverable
Creditors:amountsfallingduewithinoneyear
Tradecreditors
Socialsecurityandothertaxes
Deferredincome
Accruals
16
Debtors: amounts falling due within one year
Trade debtors
Prepayments
Tax recoverable
17
Creditors: amounts falling due within one year
Trade creditors
Social security and other taxes
Deferred income
Accruals		 2021
6,684
13,485
36,065
2021
£
6,684
13,485
36,065		 2020
14,180
35,610
221,324
2020
£
14,180
35,610
221,324
56,234
56,234		 271,114
271,114
2021
4,570
8,707
553,492
24,105
2021
£
4,570
8,707
553,492
24,105		 127,165
180
42,000
21,159
2020
£
127,165
180
42,000
21,159
590,874
590,874		 190,504
190,504

Further information on deferred income is provided in note 23.

Minimum lease payments under non-cancellable operating leases fall due as follows

Withinoneyear
Betweenoneandfiveyears
Within one year
Between one and five years		 2021
£
24,280
-		 2020
£
29,009
20,233
24,280 49,242

Lease payments recognised as an expense in the year amounted to £34,820 (2020: £20,656).

19
MovementinFunds
Unrestrictedfunds
Generalfund
Unrestricted- designatedfunds
ITReplacementfund
Officemove
RiskReserve
Restrictedfunds
Bursaryfund
Scholarshipfund
ERorisonwinteraward
Accessandprogression
FGuthrie
ViviennePricememorialfund
1978association
Totalfunds
19
Movement in Funds
Unrestricted funds
General fund
Unrestricted - designated funds
IT Replacement fund
Office move
Risk Reserve
Restricted funds
Bursary fund
Scholarship fund
E Rorison winter award
Access and progression
F Guthrie
Vivienne Price memorial fund
1978 association
Total funds		 At1/1/21
£
475,084
7,131
25,500
-
507,715
31,742
1,792
4,231
17,470
1,522
18,677
47,216
122,650
630,365
At 1/1/21
£
475,084
7,131
25,500
-
507,715
31,742
1,792
4,231
17,470
1,522
18,677
47,216
122,650
630,365		 Netmovementin
funds
£
(202,396)
(7,131)
(25,500)
210,000
(25,027)
Net movement in
funds
£
(202,396)
(7,131)
(25,500)
210,000
(25,027)
33,925
-
-
-
-
-
-
33,925
8,898		 Transfersbetween
funds
£
28,924
Transfers between
funds
£
28,924
-
-
-		 At31/12/21
£
301,612
210,000
At 31/12/21
£
301,612
-
-
210,000
28,924 511,612
511,612

-28,924
-
-
-
-
-
-		 36,743
1,792
4,231
17,470
1,522
18,677
47,216

36,743
1,792
4,231
17,470
1,522
18,677
47,216
(28,924)
(28,924)		 127,651
127,651
- 639,263
639,263

(27)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

Net movement in funds, included in the above are as follows

Unrestrictedfunds
Generalfund
Unrestricted- designatedfunds
ITReplacementfund
Officemove
RiskReserve
Restrictedfunds
Bursaryfund
ERorisonwinteraward
ViviennePricememorialfund
Musicsupport
Generalmanagersalary
Totalfunds
Comparativesformovementinfunds
Unrestrictedfunds
Generalfunds
ITreplacementfund
Officemove
Restrictedfunds
Bursaryfund
Scholarshipfund
ERorisonwinteraward
Accessandprogression
FGuthrie
ViviennePricememorialfund
1978association
Generalmanagersalary
Totalfunds
Unrestricted funds
General fund
Unrestricted - designated funds
IT Replacement fund
Office move
Risk Reserve
Restricted funds
Bursary fund
E Rorison winter award
Vivienne Price memorial fund
Music support
General manager salary
Total funds
Comparatives for movement in funds
Unrestricted funds
General funds
IT replacement fund
Office move
Restricted funds
Bursary fund
Scholarship fund
E Rorison winter award
Access and progression
F Guthrie
Vivienne Price memorial fund
1978 association
General manager salary
Total funds		 Incoming
resources
£
471,666
-
-
210,000
681,666
60,175
-
-
-
-
60,175
741,841
At1/1/20
£
675,374
7,131
25,500
708,005
1,743
1,792
4,231
17,470
1,522
18,677
47,216
1,954
94,605
802,610
Incoming
resources
£
471,666
-
-
210,000
681,666
60,175
-
-
-
-
60,175
741,841
At 1/1/20
£
675,374
7,131
25,500
708,005
1,743
1,792
4,231
17,470
1,522
18,677
47,216
1,954
94,605
802,610		 Resources
expended
£
(676,972)
(7,131)
(25,500)
-
(709,603)
(26,250)
-
-
-
-
(26,250)
(735,853)
Netmovementin
funds
£
(202,244)
-
-
(202,244)
29,999
-
-
-
-
-
-
-
29,999
(172,245)
Resources
expended
£
(676,972)
(7,131)
(25,500)
-
(709,603)
(26,250)
-
-
-
-
(26,250)
(735,853)
Net movement in
funds
£
(202,244)
-
-
(202,244)
29,999
-
-
-
-
-
-
-
29,999
(172,245)		 Gains andlosses
£
2,910
-
-
-
Gains and losses
£
2,910
-
-
-		 Movementin
funds
£
(202,396)
(7,131)
(25,500)
210,000
Movement in
funds
£
(202,396)
(7,131)
(25,500)
210,000
2,910
2,910		 (25,027)
(25,027)
-
-
-
-
-
-
-
-
-
-		 33,925
-
-
-
-
33,925
-
-
-
-
-
-		 33,925
33,925
2,910
2,910		 8,898
8,898
Transfersbetween
funds
£
1,954
-
-
Transfers between
funds
£
1,954
-
-		 At31/12/20
£
475,084
7,131
25,500
At 31/12/20
£
475,084
7,131
25,500
1,954
-
-
-
-
-
-
-
(1,954)
1,954
-
-
-
-
-
-
-
(1,954)		 507,715
31,742
1,792
4,231
17,470
1,522
18,677
47,216
-
507,715
31,742
1,792
4,231
17,470
1,522
18,677
47,216
-
(1,954)
(1,954)		 122,650
122,650
-
-		 630,365
630,365

(28)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

Comparative net movement of funds included in the above are as follows:

Unrestrictedfunds
Generalfunds
Restrictedfunds
Bursaryfund
Leverhulmescholarshipfund
ERorisonwinteraward
ViviennePricememorialfund
Musicsupport
Generalmanagersalary
Totalfunds
Unrestricted funds
General funds
Restricted funds
Bursary fund
Leverhulme scholarship fund
E Rorison winter award
Vivienne Price memorial fund
Music support
General manager salary
Total funds		 Incoming
resources
£
341,797
41,000
-
-
-
-
-
41,000
382,797
Incoming
resources
£
341,797
41,000
-
-
-
-
-
41,000
382,797		 Resources
expended
£
(544,826)
(11,001)
-
-
-
-
-
(11,001)
(555,827)
Resources
expended
£
(544,826)
(11,001)
-
-
-
-
-
(11,001)
(555,827)		 Gains andlosses
£
785
Gains and losses
£
785		 Movementin
funds
£
(202,244)
Movement in
funds
£
(202,244)
-
-
-
-
-
-
-
-
-
-
-		 29,999
-
-
-
-
-
29,999
-
-
-
-
-
-
-		 29,999
29,999
785
785		 (172,245)
(172,245)

Designated funds: IT replacement fund This fund is to provide for future IT expenditure and replacement as a condition of the restricted donation from Fidelity towards IT equipment.

Office move fund

NCO has an obligation under its office lease arrangements to make good the premises on expiry of the lease. No provision has been made for this liability as the costs cannot be reliably quantified

Risk Reserve fund

This fund is designated for risk considered force majeure or any natural disaster. It has been calculated using an estimate of irretrievable costs in these circumstances. A two-year view was taken to reflect the fact that the consequences of an event such as a pandemic extend beyond any one financial year. Trustees will actively review this reserves policy on an ongoing basis.

Restricted funds:

Bursary fund This fund is maintained through annual fundraising activities. NCO receives specific donations from which only bursary payments may be made. Distributions are made annually to support the membership of children from lower income families who might otherwise not be able to take up their places. As well as contributions to all or part of orchestra membership fees, financial assistance is also available towards the costs of travelling to courses, overnight accommodation for families who have long distances to travel, subsidised concert tickets and NCO regional orchestra rehearsal fees. Awards are made against a sliding scale on the basis of annual household income. Applications are scrutinised, and awards made, by an external panel of experts independent of NCO. The NCO Board regularly reviews bursary expenditure and scales to ensure that NCO is offering as much help as fundraising allows.

Scholarship fund The Scholarship fund is to be used for scholarships to be granted at the discretion of the Artistic Director and Principal Conductor.

(29)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

Leverhulme Scholarship fund

The Leverhulme Scholarship Fund was established to administer scholarships funded by the Everhulme Trust. Selection of Leverhulme Scholars is based on talent and musical potential, as opposed to bursary awards, which are made on the basis of financial circumstances.

E Rorison winter award

E Rorison winter award

Elizabeth Rorison, a former trustee of NCO, bequeathed £5,000 towards an annual winter concert award

Access and progression

This fund represents money received to support the outreach activities

F Guthrie

Mrs Faith Guthrie, a former NCO Trustee, generously supports certain NCO projects and provides bursaries from time to time.

Vivienne Price memorial fund

This fund has been established through donations made to NCO in memory of Vivienne Price MBE, NCO's Founding Patron, and the proceeds of a 'Grade-One-athon' fundraising activity undertaken by NCO tutors, Trustees and staff during 2015. The proceeds will be distributed over time at the discretion of the Artistic Director and Principal Conductor towards: scholarships for children who might not otherwise be able to take up their places, an annual prize to a member of Under 13 Orchestra, and the purchase of musical equipment for the general benefit of current and future members of NCO orchestras.

1978 Association

This fund represents money donated by Mr John and Mrs Faith Guthrie to support the establishment of a legacy fund for the charity

General Manager

This fund represents amounts received towards the costs of the new general manager

Music support This fund represents amounts received towards the cost of music hire

Transfers between funds

The transfers between funds represents the contribution from restricted funds towards core activities of the charity and the purchase of fixed assets, as agreed by the donor, for use in core activities.

20 Employee benefit obligations

Pension contributions amounting to £7,351 (2020: £6,745) were recognised as an expense in the SoFA in respect of the Charity’s defined contribution pension scheme. These costs are charged in full to unrestricted funds.

21 Contingent liabilities

The client has an obligation under their rental lease to make good the property at the end of the lease. No provision has been made for this liability as the cost cannot be reliably quantified.

(30)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

22 Related party disclosures

During the year a number of the trustees made donations to the Charity, these were made without condition.

During the year 1 trustee was paid a total of £2,475 (2020: £1,200) for services as tutor.

The fees paid were in line with those paid to other conductors and tutors providing similar services to the Charity.

23 Deferred income

Accruals and deferred income includes the following items of income which have been deferred as at 31 December 2021:

Membershipdeferredat1 January2021
Releasedtoincomeintheyear
Grantfundingreceivedinadvance
Membershipdeferredat31December2021
Membership deferred at 1 January 2021
Released to income in the year
Grant funding received in advance
Membership deferred at 31 December 2021		 2021
£
42,000
(42,000)
85,000
468,492
2021
£
42,000
(42,000)
85,000
468,492		 2020
50,742
(50,742)
42,000
2020
£
50,742
(50,742)
-
42,000
553,492
553,492		 42,000
42,000

Membership relates to the calendar year, places are awarded at the end of the previous year and fees are often received in advance of the start of that year. In accordance with the accounting policy, membership income received in relation to the following year is deferred.

The Trustees have no post balance sheet events to report.

(31)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2021

25
Comparativesforthestatementoffinancialactivities
IncomeandEndowmentsfrom
Donationsandlegacies
Charitableactivities
Auditions
Concerts
Regionals
Membershipfees
Othertradingactivities
Investmentincome
Otherincome
Total
Expenditureon
Raisingfunds
Charitableactivities
Residencies
Auditions
Concerts
Bursariesandscholarships
Regionals
Total
Netgainsoninvestments
NetIncome/(Expenditure)
Transfersbetweenfunds
Netmovementinfunds
Totalfundsbroughtforward
Totalfundscarriedforward
25
Comparatives for the statement of financial activities
Income and Endowments from
Donations and legacies
Charitable activities
Auditions
Concerts
Regionals
Membership fees
Other trading activities
Investment income
Other income
Total
Expenditure on
Raising funds
Charitable activities
Residencies
Auditions
Concerts
Bursaries and scholarships
Regionals
Total
Net gains on investments
Net Income/(Expenditure)
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
218,839
60
19,081
64,500
16,163
1,202
21,952
341,797
60,934
449,072
410
34,410
544,826
785
(202,244)
1,954
(200,290)
708,005
507,715
Unrestricted
funds
£
218,839
-
60
19,081
64,500
16,163
1,202
21,952
341,797
60,934
449,072
-
410
-
34,410
544,826
785
(202,244)
1,954
(200,290)
708,005
507,715		 Restrictedfunds
41,000
Restricted funds
£
41,000
-
-
-
-
-
-
-		 Totalfunds
259,839
60
19,081
64,500
16,163
1,202
21,952
Total funds
£
259,839
-
60
19,081
64,500
16,163
1,202
21,952
41,000
41,000		 382,797
382,797
11,001
-
-
-
11,001
-		 60,934
449,072
410
11,001
34,410

60,934
449,072
-
410
11,001
34,410
11,001
11,001		 555,827
555,827
29,999
(1,954)
-
29,999
(1,954)		 785
(172,245)
785
(172,245)
-
28,045
94,605
28,045
94,605		 (172,245)
802,610
(172,245)
802,610
122,650
122,650		 630,365
630,365

(32)